William Blair analyst Jeff Schmitt has maintained their bullish stance on TW stock, giving a Buy rating on October 2.
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Jeff Schmitt has given his Buy rating due to a combination of factors including Tradeweb Markets’ impressive trading volume growth and the potential for market conditions to improve. In September, Tradeweb reported a 10% increase in average daily volume (ADV) to $2.9 trillion, with significant growth in equities and stable performance in other segments like rates and money markets. Despite challenging comparisons from the previous year, the company maintained double-digit growth, showcasing its resilience and strong market position.
Additionally, the stock is currently trading near its lowest forward price-to-earnings (P/E) multiple since its public debut in 2019, suggesting an attractive valuation for investors. While current market conditions present challenges, such as low volatility and tightening credit spreads, these factors could shift in the near future, potentially enhancing Tradeweb’s performance further. Schmitt’s positive outlook is also supported by the expectation that tough comparisons will ease in the upcoming quarter, providing a more favorable environment for continued growth.
In another report released on October 2, KBW also assigned a Buy rating to the stock with a $161.00 price target.